You want to have $14,521 at the end of four years.How much do you have to invest today to accumulate that total if you can earn 6% compounded annually?
A) $11,501.99
B) $12,192.11
C) $11,524.60
D) $11,287.51
E) $11,853.46

Question

Quizplus · Accepted Answer

PV = 11ea7fdb_fc2c_2c1d_a768_5b920887c6a0_TB2902_00 PV = 11ea7fdb_fc2c_532e_a768_8700fefa0955_TB2902_00 = $11,501.99
Using a financial calculator:
N = 4, I/Y = 6, PMT = 0, FV = -14,521, cpt PV = $11,501.99

You Want to Have $14,521 at the End of Four